Thursday 28 Mar 2024
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KUALA LUMPUR (June 23): Bintai Kinden Corp Bhd jumped 7.69% this morning after it bagged a S$39.6 million (RM122.1 million) contract from Singapore's Land Transport Authority (LTA) to undertake mechanical services work for the four-in-one rail and bus depot in Singapore.

At 9.11am, Bintai Kinden rose 1.5 sen to 21 sen with 560,700 shares traded.

Bintai Kinden said its 69.82%-owned subsidiary Bintai Kindenko Pte Ltd had June 21 accepted a letter of award from the LTA to undertake the mechanical work for the supply and installation of the environmental control system for the depot.

"No major risk is foreseeable on the contract, except for the possibility of long construction period that will overstretch the preliminary costing, but this can be mitigated with close monitoring of status and planning on manpower required," it added.

 

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